Treasurer Wheeler co-convenes biennial Investor Summit on Climate Risk in New York, helping to highlight the potential for investing profitably and strategically in an era of climate change.
The Treasurer helped convene the biennial Investor Summit on Climate Risk, held at the United Nations in New York City. The event assembled more than 500 representatives of investors worldwide to discuss the implications of climate change for capital markets.
“The opportunities and risks associated with climate change will impact not only Oregon families but also our investment holdings,” Treasurer Wheeler said. “Oregon will continue to seek profitable opportunities across the economic spectrum, including in the alternative energy sector.” The Oregon Investment Council, which includes the Treasurer, manages an $82-billion portfolio that includes the Common School Fund, State Accident Insurance Fund and the Oregon Public Employees Retirement Fund. All of those investments are guided by the obligation to seek sustainable returns.
Treasurer Wheeler’s participation in the summit is part of the longtime commitment of the Oregon Treasury to improve preparedness in regard to environmental-related risks and opportunities. Wheeler also supports efforts to increase corporate transparency about climate-related risks that could impact shareholder value, including potential changes in regulations regarding carbon pollution.
Oregon Treasurers have helped to convene the biennial summits since they began in 2003. According to organizers, the goals of this year’s summit include:
• Exploring the latest climate trends and their implications for investment portfolios;
• Learning about innovations in financing for investments in energy efficiency, clean technology, and green infrastructure; and
• Identifying opportunities to invest profitably in clean industries and clean energy.
Speakers at the event include Richard Trumka, president of the AFL-CIO; Robert Rubin, former Secretary of the U.S Treasury; and investment leaders.
In October 2013, Wheeler joined with other investors and asked major energy companies to explain how they are preparing for climate change. In June, he joined with major Oregon employers including Intel, Nike and ski areas to sign a “Climate Declaration” calling for better awareness of clean energy options.
Oregon beneficiaries of public trust funds are major investors in public companies, collectively owning billions of dollars in stock. As a responsible shareholder, Oregon advocates for regulatory reforms, engages with corporate executives, and supports stronger investor rights via proxy votes at annual meetings. The goals: improve corporate responsibility and enhance profitability.
The Oregon State Treasury protects public assets and saves Oregonians money through its investment, banking, and debt management functions.State investment policies are overseen by the Oregon Investment Council. The State Treasury also promotes public outreach and education to help Oregonians learn strategies to save money, invest for college and make smart financial choices. You can track Treasury-related news on Twitter at @OregonTreasury.
